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Walrasian auctioneer(Redirected from Tatonnement)
The Walrasian auctioneer (introduced by Leon Walras) is the presumed auctioneer that matches supply and demand in a market of perfect competition. The auctioneer provides for the features of perfect competition: perfect information and no transaction costs. The process is called tātonnement, or groping, relating to finding the market clearing price. The contents of this article are licensed from Wikipedia.org under the GNU Free Documentation License.
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